Starbucks Shares Tick Lower On Slow Growth Reports

Starbucks Corporation (NASDAQ:SBUX) shares fell Wednesday morning after after setting profit guidance below expectations.

Starbucks expects 2020 profit growth to be lower than the current 10% rate, two months after the coffeehouse chain raised its 2019 profit forecast according to Reuters.

Starbucks shares were trading down 2.21% at $94.63 in Wednesday’s pre-market session. The stock has a 52-week high of $99.72 and a 52-week low of $53.21.